In this article, I will tell you how to start and grow the start-up in India at the initial stage and take your start-up to the next level. This article is for those people who are willing to start a start-up in India and ready to take efforts. So, let’s dive in!
Why start a start-up in India?
The main reason is the youth of the country, the teenagers are all super active to do business and to live a luxurious life or might have to solve a specific problem of the society. Everybody just thinks that they will start a start-up and grow it in the future but the main problem is they just think they never take action. If you don’t give momentum, shape to your idea it will not bring fortune to you. You have to convert your idea into execution and grow slowly.
Start-up or doing business helps employment generation and well-being of the people. There will be no poverty if everybody tries to be self-employed and gives jobs to others. The government is encouraging people to start their own start-ups. After reading this article you will get some business ideas and then you can move ahead by executing them.
What’s is your idea?
The idea is your base of the start-up. What type of business do you want to start? It can be anything like opening a training centre where you will train the students and take them on the job based on their performance, opening your office related to your profession, or manufacturing a product that a market needs it. Come up with an idea that is unique and solving the major problem of the people as well. The bigger the problem, the more money you will make. So get the idea clear in your mind.
Focussing on ONE plan only-
Having two plans in the mind, then the chances of succeeding are very less. If you stick to the plan that you have made and give your 100% then it will definitely work. You will be not sure whether this plan will work or not. But having an alternative plan will not help you, focus on one plan and put your full energy, suffer the pain because that makes your stronger will help you to succeed in the long term. Commitments in the star-up are important because that makes you think about the solution and make it happen in any situation.
Arrangement of Funds-
I have written a detailed article on how to get funds for a start-up or for any other business. You will get to know the different sources of funds that are required for your business. So, visit that article. I will also give a extra tip for a debt-free business.
1) Take 50% or more in advance to manufacture your product. So, that you don’t need to take money from others.
2) If you want to make cost effective then do the entire process by yourself. From raw materials to finished goods and exporting them.
3) Avoiding wastage of resources and making simple and easy process can save your most of the money.
Choosing the location and environment-
Choose a proper location where you can work at night, secure, and with affordable rent. Arrange all the systems and computers that you need to work on. Remember to begin with a small market and then expand slowly. Maintain an environment that is favourable and more productive for your work. What type of environment your employees like, keep that only. It will make them feel interested in their work. We will discuss more employees in the later section.
Understand the Market-
First understand what the market wants, their problems, and expectations. You have to look towards the problem and then take action according to it. Quora is a great place to look after different problems. Initially, you have to take some efforts to market your products. You have to tell stories to people that are relatable and interesting. Then the growth will happen slowly.
Building your Team-
Making an efficient team is necessary for the company’s growth. You will think that hiring my friends or relatives will help in the start. Well, avoid that, you cannot fully trust your friends or relatives. They may want a job but you will find it difficult when you want to remove them from your company. If your friend is efficient and you have trust in him then there is no problem. The reason you should hire a team member from outside is that you have the authority and choice, you can choose according to your judgment. Well, I have written a detailed article on how to hire employees for a company, you can read that.
Updating yourself-
In your journey, you will face competition and many other obstacles but you have to be updated. Every day you should invest some hours in learning new things, reading books or sharpen your skills regularly. You can take a course, attend seminars, workshops to develop your skills. Learning will never end. Investing in yourself is the best way to be ahead of the competition.
Grab the Opportunity-
Don’t wait for opportunities to come, go and find new opportunities. Life is full of opportunities, it offers every day a new opportunity but we don’t see it. Taking the opportunity at the right time will help you in the long term. Along with that take risks, if you don’t take risks you will not grow enough, you will play a safe game where there are very few returns. Take calculated risks and see the outcomes, you will be surprised!
Take a look at Digital Marketing-
Digital Marketing is the fastest growing industry. If you missed this area, you will lose your main audience. Having your own website, community, and email list are necessary for today’s age. Generating leads through your lead magnet will help you to understand and nurture your audience in a better way. You can make announcements, promote your product, also get the suggestion of the audience. If you want to learn Digital Marketing and become an expert in it then you can visit here. Remember, doing Digital Marketing can grow your revenue by 10x.
Having a Polite Attitude– Always say I am prepared to do the following things:
Customer Service-
Remember, the customer is your king, you should keep him happy. At many companies the queries of customers not get solved quickly. If you are slow in responding to customer queries then you might have to improve on your customer service department. A longer time to respond will result in losing many customers. So, provide the best service to the customer because a happy customer will bring more customers.
I have listed some websites that will be useful for your start-up. Have a look at it.
Difficulties during your journey-
There will be many difficulties waiting for you. But the difficulties become very small compared to your desire to make it a successful start-up. Sometimes you will have a problem in outsourcing funds or employees are not working properly. Everyone problem has a solution, if there is no solution then the problem never existed. So find it out how can I fix it and move ahead there is a lot to explore. Have massive goals in your life that will keep you motivated that you have to achieve them anyhow.
Having patience is important in the start-up. Taking consistent efforts, significant patience and always looking for opportunities can help the start-up to grow exponentially. In your start-up journey you will not know what is working and not working, so always experiment and see which is the best and then scale up. You will have a little fear, nervousness in your mind, just face that and you will realize, that was nothing. There is a lot to explore ahead.
All the best for your start-up journey! Thank you for reading my article and tell me how did you like this article.